Here is the deal. I have a Vizio, Model No: E470I-A0. What the TV is now doing is whenever it is plugged into the wall, the power light shows up in the lower left corner (as it would if it was normally on). This light stays on no matter what you do, hit power button, other buttons, etc etc. Only way to turn it off is to unplug from wall.

I am not able to get any picture, sound, or any activity except for the power light. I took off the back panel and did not see or find any "bulging" capacitors or disconnected wires.

I would really appreciate the help if someone knows if there is something I can do to fix this, or is the TV shot and done? Appreciate your input.

On the Power supply board there should be a connector labeled 'CN201.'
Also printed near that same connector is a chart/table that identifies what each pin does - and in some cases the DC voltage that should be present.
Some pins should only have a voltage on them only when the TV is running. Some should have a voltage on them in standby (TV plugged into AC - Power button has yet to be pressed) and while the TV is running (After ONE press of the Power button).

A DVM set to measure DC Volts will do nicely.
There is a '1' on the left and a '12' on the right of connector CN201. The chart shows what's on each pin. The pins I'm interested in are 1, 2 & 6 thru 9.
Place meter's black lead on metal of 'LUG 3' and measure (with Red lead) to each pin in turn. Write down your reading, then press Power button ONCE. Watching the meter as you press Power. Record reading. Move red lead to next pin I mentioned. Write down your reading, then press Power button ONCE. Record reading.

According to the site I'm using, there is more than one Main board used by your model.
This site usually shows if there is a replacement surface mount part available (an EEPROM) that could be replaced - They do NOT show any for any of the Main boards shown for your model.
Fleahay is another possibility, but I am not about to search 4 times, once for each part number.